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BOARD OF REVIEW CITY OF RAMSEY ANOKA COUNTY STATE OF MINNESOTA The Ramsey Board of Review conducted it's meeting on Thursday, April 4, 1991 at the Ramsey Municipal Center, 15153 Nowthen Boulevard N.W., Ramsey, Minnesota 55303. Members Present: Mayor James Gilbertson Councilmember Sheila Beyer (arrived at 8:35 p.m.) Councilmember Richard Cich Councilmember Glen Hardin Councilmember Kenneth Peterson Also Present: City Assessor John Keefe Acting City Administrator/Finance Officer Sandra Ashley Helling CALL TO ORDER Mayor Gilbertson called the Board of Review to order at 7:31 p.m. and led in the Pledge of Allegiance to the Flag. CITIZEN INPUT None PRESENTATION Finance Officer Helling presented answers to the three most frequently asked tax questions. Q1) Why is the City raising my property taxes so high? Al) 16% of the tax goes to the City, 31% to the County, 52% to the School District and Regional Special 1%. Mrs. Helling displayed an overhead of a property tax statement payable in 1991. The statement showed an increase in market value of $5100 which is a 6.7% increase from 1990 to 1991. The dollars of distribution are as follows: $53.28 increase to the County, $1.13 less to the City of Ramsey, $85.00 increase to the School District and $1.50 increase to Special Tax. An increase in valuation doesn't necessarily mean an increase in taxes for the City of Ramsey. Q2) Where do our tax dollars go? A2) City Council and City Staff are in the process of reviewing the City's budget for last year. The only expenditures are the absolute necessary ones and even the budgeted positions are not being filled at this time. Q3) What about the City's fund balance. A3) Mrs. Helling explained there are three basic funds. 1) The General Fund maintains a healthy balance - approximately 1.6 million dollars. 1-1/2 million dollars is designated for working capital. 2) There is a 2.3 million dollar balance in the Landfill Trust Fund. The principal balance of this fund needs to remain intact. The City of Ramsey can enjoy loans from this fund at a lower interest rate. 3) The Tipping Fee Fund. This fund is designed to mitigate the impacts of being a host City to a landfill. There is a $740,000 balance in this fund. City Assessor Keefe stated that the purpose of the Board of Review meeting is strictly to address market values and classifications of property for the 1991 assessment. He explained that the property tax statements won't be discussed, nor will the 1990 assessment payable in 1991 be discussed as that should have been addressed at last year's Board of Review meeting. Mr. Keefe explained that with homestead classification, the tax on the first $68,000 value is 1%, values between $68,000 and $110,000 is at a 2% rate and over $110,000 in value is 3%. If non- homestead classification applies, the rate is 3% overall. With regard to commercial tax rate, it is 3.2% on the first $100,000 of market value and 4.95% on values over $100,000. Vacant Board of Review/April 4, 1991 Page 1 of 8